It is the sheer breadth of criteria offering which makes Residential by Foundation distinctive. The combination of criteria possibilities - for manual underwriting needs, affordability and credit - means you can ask us to lend on almost any residential case, even those with multiple layers of complexity.
The three pillars of Specialist Residential Criteria
Key criteria
Who for?
- Self-employed – directors, partners and contractors
- Employed - no minimum term in current job (minimum 3 months employed)
- Clients with multiple and unusual income sources
- Holders of credit blips / lower credit scores - view our criteria tiers
- First time buyers
- Discover more about which extra-ordinary clients we can help you with here
How much?
- Maximum loan F1 & F2 £3m where product allows
- Maximum loan F3 £1m where product allows
- Maximum loan F4 £500k where product allows
- Maximum term 40 years
- Maximum age 75 at end of term
- No minimum income
- Maximum number of applicants is 4 (immediate family)
- Interest only, affordability calculated on an interest only basis up to 70% LTV
- Capital raising for buy to let purchase accepted
- A part and part mortgage up to 80% where product LTV allows
Income considered
- Up to 100% of bonus and/or commission accepted
- 100% Personal and state pension income
- 100% Investment income
- 100% Maintenance income (court order)
- 100% Maternity and paternity income
- 100% Trust income
- 100% of Land and Property income less the finance cost
Our credit tiers explained
We consider clients with blips on their credit rating and other credit score declines. Our residential mortgages are split into four tiers, F1, F2, F3 and F4. Please use the table below to see which tier your client with a credit blip would fit into.
